11/15/2011 PERMALINK
A confederacy of dunces, the results of a failed meme set. The failed dogmas shared by most of the world's politicos, seem to be inexorably pushing our civilization out towards the 'worst possible' end of the spectrum of possible outcomes. From Europe this morning:

The draft law would allow the EU to temporarily ban companies such as Standard & Poor’s, Fitch and Moody’s from issuing ratings changes if regulators assess that such moves would exacerbate market volatility. The plan would give the European Securities and Markets Authority, the Paris-based financial markets regulator, the power to suspend for a limited period the ratings of certain countries that are receiving a bail-out programme.

I am hard pressed to think of a better strategy for destroying the last of the confidence bond investors have in European sovereign debt. Throughout this event, politicos haven't just been ineffective in their actions. Their failed dogmas have often caused them to take precisely the actions that will most acerbate the situation. The right meme set is the key to the survival and progress of our kind.